AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD weakened 0.69% against the USD to close at 0.8879.
LME Copper prices declined 1.26% or $86.5/MT to $6782.0/MT. Aluminium prices declined 1.26% or $24.5/MT to $1925.0/MT.
In the Asian session, at GMT0300, the pair is trading at 0.8887, with the AUD trading 0.09% higher from yesterday’s close, after China, Australia’s biggest trading partner, indicated that the preliminary HSBC/Markit manufacturing PMI of the nation unexpectedly rose to 50.5 in September, beating market expectations for a level of 50.0 and compared to previous month’s 50.2.
The pair is expected to find support at 0.8842, and a fall through could take it to the next support level of 0.8798. The pair is expected to find its first resistance at 0.8941, and a rise through could take it to the next resistance level of 0.8996.
The currency pair is trading between its 20 Hr and 50 Hr moving averages.
